Modine Manufacturing Co. (MOD) Stake Increased by Bank of New York Mellon Corp
Bank of New York Mellon Corp boosted its stake in Modine Manufacturing Co. (NYSE:MOD) by 0.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 198,206 shares of the company’s stock after buying an additional 37 shares during the period. Bank of New York Mellon Corp owned 0.42% of Modine Manufacturing worth $1,744,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in MOD. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Modine Manufacturing by 1.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 25,490 shares of the company’s stock valued at $281,000 after buying an additional 450 shares during the period. Strs Ohio boosted its stake in shares of Modine Manufacturing by 5.7% in the second quarter. Strs Ohio now owns 71,200 shares of the company’s stock valued at $626,000 after buying an additional 3,836 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Modine Manufacturing by 7.6% in the first quarter. Goldman Sachs Group Inc. now owns 171,795 shares of the company’s stock valued at $1,891,000 after buying an additional 12,158 shares during the period. Mesirow Financial Investment Management US Value Equity bought a new stake in shares of Modine Manufacturing during the first quarter valued at approximately $183,000. Finally, Spark Investment Management LLC boosted its stake in shares of Modine Manufacturing by 103.7% in the first quarter. Spark Investment Management LLC now owns 32,800 shares of the company’s stock valued at $361,000 after buying an additional 16,700 shares during the period. Institutional investors own 83.52% of the company’s stock.
Shares of Modine Manufacturing Co. (NYSE:MOD) traded down 1.42% during mid-day trading on Friday, hitting $11.77. 78,002 shares of the company traded hands. The firm has a 50-day moving average price of $11.32 and a 200 day moving average price of $10.42. Modine Manufacturing Co. has a 52-week low of $5.39 and a 52-week high of $12.21. The firm has a market cap of $562.38 million, a price-to-earnings ratio of 301.79 and a beta of 1.42.
Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, August 2nd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. Modine Manufacturing had a net margin of 0.14% and a return on equity of 10.46%. The firm earned $347.20 million during the quarter, compared to analyst estimates of $337.10 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts anticipate that Modine Manufacturing Co. will post $0.84 EPS for the current fiscal year.
Separately, Zacks Investment Research cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday.
About Modine Manufacturing
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on-highway and off-highway original equipment manufacturer (OEM) vehicular applications, and for sale into an array of building, industrial and refrigeration markets. The Company’s products include radiators and radiator cores, exhaust gas recirculation coolers, building heating, ventilating and air conditioning (HVAC) equipment, and coils.
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